Utility Global Secures $53 Million in Ongoing Series C Financing for Clean Hydrogen Technology

Utility Global has secured a significant investment of $53 million in ongoing Series C financing. This funding will support the development and commercialization of clean hydrogen technology.

The company is working to make clean hydrogen a viable alternative to traditional energy sources. This technology has the potential to significantly reduce greenhouse gas emissions and mitigate climate change.

Utility Global's innovative approach to clean hydrogen production is a major step forward in the transition to a more sustainable energy future.

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Utility Global has secured $53 million in ongoing Series C financing, a significant investment in the company's clean hydrogen technology.

The funding round was led by the OPG Pension Plan and joined by multinational steel company ArcelorMittal through its XCarb Innovation Fund, alongside current investors Ara Partners and Aramco Ventures.

Utility Global's eXERO gas production technology converts and concentrates streams of hydrogen and syngas from industrial waste gases, providing a cleaner and more efficient alternative to other methods.

The company's technology works with the inherent energy in off-gases, eliminating the need for electricity, a key challenge for emerging cleantech solutions.

Utility Global's CEO, Claus Nussgruber, stated that the new capital will be used to accelerate commercialization and go-to-market strategies for eXERO, and particularly the final design and productization aimed at deploying first commercial units in 2026.

The company has already completed a demonstration program at a commercial steel facility, resulting in the first hydrogen ever produced from blast furnace off-gases in a single reactor.

Utility Global's innovative technology has the potential to transform industries like steel, biogas to mobility, and energy production by introducing a new, cost-effective way of reducing greenhouse gas emissions.

ArcelorMittal and Utility Global have also announced a new collaboration agreement to develop a commercial facility at one or more of ArcelorMittal's integrated steel plants.

The company's eXERO solution is the first of its kind to convert process gases into clean hydrogen in a single reactor, onsite, in a cost-effective manner that extends the life of existing customer assets and processes, while providing significant emissions reductions.

Utility Global has secured a significant $53 million in its ongoing Series C financing round, a testament to the company's strong mission and innovative technology. This substantial funding will support the company's next phase of growth, including scaling up its technology for commercial deployment.

The financing round was led by the OPG Pension Plan, joined by prominent investors such as the ArcelorMittal XCarb Innovation Fund, Ara Partners, and Aramco Ventures. Each of these investors brings strategic value to the table.

The funds will be used to further develop and deploy Utility Global's groundbreaking eXERO technology, which enables the conversion of off-gases into clean hydrogen and syngas without electricity. This cost-effective solution has already demonstrated its effectiveness in a commercial steel facility, producing hydrogen directly from blast furnace off-gases in a single reactor.

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Utility Global recently secured a significant Series C financing round, raising $53 million. This substantial investment underscores strong investor confidence in the company's mission.

The round was led by the OPG Pension Plan, which brings a wealth of experience and strategic value to the table. The OPG Pension Plan is not the only prominent investor, as others like the ArcelorMittal XCarb Innovation Fund, Ara Partners, and Aramco Ventures also joined in.

The funds raised will support Utility Global's next phase of growth, including scaling up its technology for commercial deployment. This is a crucial step for the company, as it looks to expand its reach and impact.

ArcelorMittal, one of the investors, is particularly noteworthy, as it is aligning its steelmaking operations with Utility Global's technology to advance decarbonization efforts. This partnership has the potential to drive meaningful change in the industry.

Utility Global's eXERO technology is a breakthrough in industrial decarbonization, enabling the conversion of off-gases into clean hydrogen and syngas. This is a game-changer for industries looking to reduce their carbon footprint.

The technology has already demonstrated its effectiveness in a commercial steel facility, producing hydrogen directly from blast furnace off-gases in a single reactor. This is a significant achievement, and one that holds promise for the future.

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Sustainability Economics is a key consideration for companies looking to adopt more environmentally friendly practices. Utility Global's eXERO technology is a prime example of how sustainability can be economically viable.

By integrating seamlessly with existing industrial processes, companies can reduce emissions without significant operational disruptions. This is a major advantage for industries that need to balance sustainability goals with cost management.

The eXERO technology converts off-gases into valuable products like hydrogen and syngas, providing a financial incentive for industries to adopt more sustainable practices. This dual benefit of environmental and economic impact makes Utility Global's solutions particularly attractive.

Utility Global's approach to sustainability is a game-changer. The company's eXERO technology integrates seamlessly with existing industrial processes, allowing companies to reduce emissions without significant operational disruptions.

By converting off-gases into valuable products like hydrogen and syngas, the technology provides a financial incentive for industries to adopt more sustainable practices. This is a win-win for companies looking to reduce their environmental impact while also managing costs.

Utility Global's solutions are particularly attractive to industries facing the dual pressures of sustainability goals and cost management.

Utility Global has secured $53 million in ongoing Series C financing, a significant milestone for the company.

The funding round was led by the OPG Pension Plan, with ArcelorMittal's XCarb Innovation Fund, Ara Partners, and Aramco Ventures also participating.

Utility Global plans to use the proceeds to accelerate commercialization and go-to-market strategies for its eXERO technology.

The company's eXERO technology converts process gases into clean hydrogen in a single reactor, onsite, in a cost-effective manner.

This technology has the potential to decarbonize hard-to-abate industries such as steel, biogas to mobility, and energy production.

Utility Global's CEO, Claus Nussgruber, stated that customers and investors are seeking cost-effective, onsite decarbonization solutions that provide material reductions in greenhouse gas emissions this decade.

The company has already completed a demonstration program at a commercial steel facility, resulting in the first hydrogen ever produced from blast furnace off-gases in a single reactor.

Utility Global's eXERO solution extends the life of existing customer assets and processes, while providing significant emissions reductions.

The company's H2Gen product line will deploy first commercial units in 2026.

ArcelorMittal and Utility Global have entered into a Collaboration Agreement to develop a commercial facility at one or more of ArcelorMittal's integrated steel plants.

This collaboration will further demonstrate the unique technological approach Utility Global is pursuing to decarbonize industries.

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